XRP Futures Volume Spikes to Early February Highs Above $11B

XRP futures volume has surged to highs the market last witnessed in early February, as investors renew interest in derivatives activity.

XRP joined the broader crypto market rebound last week, climbing back above the $1.40 level as the rally continued into the new week.

However, the pace has slowed. Despite the weaker momentum, activity in XRP futures has climbed, reaching a new six-month high.

XRP Futures Volume Hits Six-Month High

Verified CryptoQuant author Amr Taha discussed this trend in a recent disclosure. Data shows that futures trading volume across Bybit, OKX, Binance, and Bitget reached $11.37 billion on Aug. 22, the highest level since Feb. 5.

The jump followed a 4.3-fold increase in large XRP exchange withdrawals over 48 hours, with withdrawals reaching 231 million XRP.

In addition, the move also came as XRP posted a roughly 45% rebound, pushing exchange flows, futures activity, and price movement to their strongest combined levels in months.

Large XRP Withdrawals Rise as Futures Activity Spikes

Taha identified large-transfer outflows through transactions involving more than 1 million XRP. These withdrawals rose from 54 million XRP on Aug. 19 to 114 million XRP on Aug. 20, before reaching 231 million XRP by Aug. 21.

Futures activity picked up soon after. Specifically, Binance recorded $5.63 billion in volume on Aug. 22, while Bybit reached $2.35 billion. OKX followed with $2.04 billion, and Bitget recorded $1.35 billion.

Combined, the four exchanges handled about $11.37 billion in XRP futures volume. This figure came in roughly 17.5% above the level recorded on Feb. 5. The increase also spread across all four exchanges instead of coming from just one platform.

Notably, Binance saw its volume rise to $5.63 billion from $5.44 billion on Feb. 5. Bybit climbed to $2.35 billion from $2.04 billion, while OKX increased to $2.04 billion from $1.35 billion. Bitget recorded the biggest increase among the four, moving to $1.35 billion from $0.84 billion.

XRP Cools After Nearly 50% Weekly Gain

Currently, XRP trades at around $1.48, with a 24-hour range of $1.45 to $1.54 and trading volume of $5.80 billion. Its market cap stands at $92.73 billion, keeping XRP at No. 5 among all cryptocurrencies. 

The token has pulled back after one of its strongest weekly rallies of the year. Specifically, XRP rose from around $1 to nearly $1.70, marking a gain of roughly 50%, before profit-taking pushed the price lower.

XRP’s short-term moving averages have formed a golden cross, supporting the current bullish structure. The signal shows that short-term price momentum remains positive even after the recent pullback.

However, the crypto asset now sees RSI readings above 80 at recent highs, which may suggest overbought conditions. This increases the risk of further profit-taking, especially after such a strong move in a short period.

For buyers, the key level to watch remains the $1.40 support floor. If XRP holds above this level, the current bullish structure could remain intact. The next major hurdle sits between $1.65 and $1.70, an area XRP approached during its recent rally.